Singapore's metal inventories reach record 430,000 tons due to China's slowing economy, attracting warehouse incentives.

Singapore's metal inventories surge, with refined zinc and lead in LME's Singapore-registered warehouses reaching a record 430,000 tons. The slowing global economy, particularly in China, causes a stockpile as trading companies wait for increased Chinese demand. Singapore's strategic location and established base of traders and banks offer both financial and logistical liquidity. Warehouse operators in Singapore offer financial incentives, like $50 per ton, to attract metal storage, introducing new risks for warehouses.

August 16, 2024
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